Articles by Leo Panitch

Contrary to mainstream diagnoses blaming the current financial crisis on a retreat of the state, Leo Panitch and Martijn Konings trace the active interventions that have shaped US finance and yoked working-class America to the discipline of debt.

The end of US hegemony has been announced more often even than that of neoliberalism. Yet American power persists, with little resistance so far from rival centres of accumulation. Rationales and indices of the continuing role of the United States as overlord of world capital.

Globalization is the watchword of the moment. Does it mean the irresistible sway of markets over states—or are welfare regimes in Europe or dirigiste governments in East Asia still potentially robust? Neither, Leo Panitch argues: the reality is an unprecedented dominance of the United States over world capital flows and allied political systems alike.